IHH gets license to set up Shanghai joint venture
02-Jul-15, The Sun Daily
IHH Healthcare Bhd's indirect wholly-owned subsidiary M&P Investments Pte Ltd has received a business licence from Shanghai Administration for Industry and Commerce, for the establishment of a 70%-owned sino-foreign equity company named Parkway Health Shanghai International Hospital Company Limited (PHSIH) for 20 years. The validity period of the licence is from June 29 to June 28, 2035.
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This follows the equity joint venture contract dated April 6 and amendment to equity joint venture agreement dated May 8, entered into between M&P and Shanghai Hongxin Medical Investment Holding Co Ltd. The remaining 30% equity stake in PHSIH is owned by Shanghai Hongxin.
PHSIH was established on June 29 in China as a sino-foreign equity company. Its principal activity is the provision of medical and health related facilities and services, including multi-specialty hospital outpatient, inpatient, operating theatre and all other hospital facilities that are operated in connection.